State of Montana, Teachers' Retirement Division, Report On Examination of Financial Statements, Two Fiscal Years Ended June 30,... 1982
The book State of Montana, Teachers' Retirement Division, Report On Examination of Financial Statements, Two Fiscal Years Ended June 30,... 1982 was written by author Montana. Legislature. Office of the Legislative Auditor Here you can read free online of State of Montana, Teachers' Retirement Division, Report On Examination of Financial Statements, Two Fiscal Years Ended June 30,... 1982 book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is State of Montana, Teachers' Retirement Division, Report On Examination of Financial Statements, Two Fiscal Years Ended June 30,... 1982 a good or bad book?
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting The Teachers' Retirement System maintains its accounts on the full accrual basis of accounting. Valuation of Investments Short-term investments and state securities are stated at cost. Federal and corporate securities are stated at book value increased by the amount of unamortized premiums ($117,639 in fiscal year 1982) and decreased by unamortized discounts ($14,216,468 in fiscal year 1982). Market values of the investments were as... follows: June 30, 1982 Common Stock $ 35,931,716 Securities : Repurchase Agreements 3,300,000 Bankers Acceptance 4,978,253 U.S. Government Securities 5,857,531 Canadian Obligations 12,530,761 Corporate Bonds 92,270,345 Securities Subtotal 118,936,890 Montana Mortgages 39,383,527 Land and Building 146,368 $194,398,501 NOTE B. GAINS AND LOSSES ON BOND SWAPS The deferral and amortization method was used for accounting for gains and losses on bond swaps (i.e., the unamortized deferred 16 gains or losses are netted against the investment account and written off over the life of either the bond sold or acquired, whichever is less).
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